This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.
Claims
Webinar Featuring Sun Life's Use of New Disability Claims Case Management System From IBM/IPD Now Available.
December 2007 -- IBM and IPD (an IBM application partner) recently announced a new packaged software solution for managing the business processes associated with Disability Claims operations. We invite you to logon to view a webinar featuring our guest speaker, Sun Life Financial. Hear why Sun Life Financial chose this solution for their Group Benefits Disability system.
ICLR releases major study - Sewer Backup: Homeowner perception and mitigative behaviour in Edmonton and Toronto.
On December 5, the Institute for Catastrophic Loss Reduction (ICLR) released a major study on public perceptions of sewer backup. The paper is based on a survey of a total of 805 homeowners in Edmonton, Alberta, and Toronto, Ontario. The intention of the research is to increase awareness and understanding of homeowner perceptions of sewer backup and homeowner risk mitigation in Canadian municipalities, and to provide practical information for municipal government staff responsible for managing basement flood risk.
Distribution
York Fire Extends Gateway System to offer brokers real-time connectivity for property new business and automobile policy change using iter8.
MISSISSAUGA, December 5, 2007 - York Fire and Casualty Insurance and iter8 Inc. are pleased to announce the expansion of the York Fire Gateway System. The Gateway System has long been one of the top broker connectivity solutions in Canadian insurance, connecting brokers to sales, service, underwriting, rating, policy, and claims systems at York Fire.
Pacific Blue Cross selects Global IQX for Technological Innovation.
Ottawa, ON - December 4, 2007 - Global IQX Inc. a leading software provider in business automation and business process management for the North American employee benefits industry, today announced that Pacific Blue Cross and its subsidiary British Columbia Life & Casualty Company have licensed the Global IQX software platform including capabilities for online quoting, rating, proposal generation, renewal management and detailed reporting.
Santa is a Senior, so be good to his cohorts! by Linda MacMillan, CFP, CSA.
Here we are again. Another holiday season is upon us, December 2007. As we scurry about trying to fit in those extra social activities and shopping duties, let's not forget the seniors in our lives – whether grandparents, parents, neighbours or strangers. Santa would not like that!
HKMB International Insurance Brokers to Combine with Hub International.
TORONTO & CHICAGO, December 5, 2007 - HKMB International Insurance Brokers (HKMB) and Hub International Limited announced today that they have entered into a definitive agreement pursuant to which HKMB will join with HUB International. HKMB will become a new regional platform (hub) and carry on business as HKMB Hub International from its existing offices in Toronto, Ontario.
Our People
Industrial Alliance Gives $1.5 Million to Laval University.
Industrial Alliance Group (IAG) has recently confirmed the continuation of its relationship with Laval University through an annual donation to Laval's Foundation for the benefit of the « Industrial Alliance Insurance and Financial Services Chair ». Over the period 1996-2015, IAG will have invested $2 million into the Chair's endowment fund to sustain its activities.
Consumer Information
Manitoba Public Insurance ushers in decade of rate stability: PUB ruling increases rebate to $63 million – or $100 per vehicle owner.
Most Manitoba vehicle owners will pay the same or less for auto insurance next year, and everyone who paid for auto insurance in 2006-07 will receive a 10 per cent rebate, the Public Utilities Board (PUB) ruled recently.
New guide to health human resources in Canada: CIHI.
December 3, 2007 - Effectively planning and managing Canada's health care workforce is vital to ensuring Canadians can access health services when and where they need them. Today, the Canadian Institute for Health Information (CIHI) presents Canada's Health Care Providers, 2007, a comprehensive reference on the country's health care workforce. This new report looks at how the health provider landscape has evolved, examines the complexities of health human resources planning and management in the current environment and provides the latest information on supply trends for various health professions.
Canadian Fire Chiefs Call for Tax Support for Fire Safety in Canada.
OTTAWA, November 28, 2007 - The Canadian Association of Fire Chiefs (CAFC) today repeated its call for the federal government to provide personal tax credits to support the work of Fire Services across Canada.
Ignoring Workplace Injuries and Fatalities a Recipe for Disaster for Ontario: WSIB.
TORONTO, November 5, 2007 - Last year in Ontario, 101 workers lost their lives due to traumatic injuries. This year, the number is already 73 at the end of October. We can't allow this to continue.
Product Announcements
Industrial Alliance launches Ecoflextra - a lifetime guaranteed retirement income product.
QUEBEC CITY, Dec. 3, 2007 - Industrial Alliance Insurance and Financial Services Inc. is pleased to announce the launch of Ecoflextra, its new retirement income product that offers the two most sought-after features for retirement: protection and growth. Ecoflextra effectively ensures investors of a retirement income guaranteed for life, while allowing them to profit fully from all the growth potential of the market.
Reference and Statistics
U.S. Individual Life Insurance Premium Sales Soar, says LIMRA.
Windsor, Conn., Nov. 27, 2007 - LIMRA International reports U.S. individual life insurance premium increased twenty percent in third quarter 2007 resulting in an eight percent increase for the first nine months of 2007 over 2006.
Marketing and the Market Place
Search Wars in Canada: eMarketer.
NOVEMBER 30, 2007 - Total Canadian revenues from online advertising reached C$1.01 billion (US$894 million) in 2006, according to the Interactive Advertising Bureau of Canada - a leap of 80% in a single year.
The Good, Retired Life: Poll by Ipsos Reid for RBC.
November 20, 2007 - Toronto, ON - According to a recent poll conducted by Ipsos Reid on behalf of RBC, while a slim majority (56%) of individuals approaching retirement believe that their quality of life will get better once they retire, eight in ten (79%) current retirees indicate their quality of life was improved once they retired. These findings suggest that retired life is even better than individuals might have originally predicted.
eBusiness and Technology
TowerGroup: Rapid Advancements in Technology To Reshape Insurance Landscape Over Next Decade.
NEEDHAM, MA, November 26, 2007 - While the insurance industry has not typically been known for leading in technological innovation, new TowerGroup research finds that rapid advancements in technology are poised to reshape the insurance landscape over the next five to 10 years.
Simplifying the Insurance IT Application Landscape: Report Published by Celent.
London, United Kingdom - 28 November 2007 - Large, global insurers are taking on the processes of core system replacement, portfolio rationalisation, and infrastructure consolidation. Simplification of the application landscape has forced many insurers to come to terms with the challenges posed by their core legacy systems.
from Doug:
The lingering snow and promise of a cold winter have helped to bring the Christmas spirit. On Saturday we joined a group at Black Creek Pioneer Village where we enjoyed a Christmas dinner. One of the outdoor evergreens was decorated with apples - quite effective. The buildings were mostly open and the interpreters threw light on nineteenth century customs. The Scottish Doctor's house, with office, was decorated, but Christmas would have been "celebrated" with a trip to church and a meal. Hogmany, December 31, would have been the main celebration leading up to the New Year or Ne'erday on January 1.